Govt to set up Rs 1 lakh cr agri-infra fund
| Date :09-Jul-2020 |
Prime Minister Narendra Modi chairs Union Cabinet meeting at
7 Lok Kalyan Marg in New Delhi on Wednesday. (ANI)
NEW DELHI :
THE Government on Wednesday approved setting up an agriculture infrastructure fund with a corpus of Rs 1 lakh crore to provide financial support to entrepreneurs, Starts-ups, agri-tech players and farmer groups for infrastructure and logistics facilities. A decision in this regard was taken in the Cabinet meeting, headed by Prime Minister Narendra Modi. The Agri-Infra Fund was part of the Rs 20 lakh crore stimulus package announced in response to the COVID-19 disaster. Briefing the media about the Cabinet decisions, Agriculture Minister Narendra Singh Tomar said: “It is a historical decision.
This will further the agriculture sector.” He said that financial facilities of over Rs 1 lakh crore will be provided to primary agri credit societies, farmers groups, farmer producer organisations (FPOs), agri-entrepreneurs, Start-ups and agri-tech players. The funds will be provided for setting up of cold storages and chains, warehousing, silos, assaying, grading and packaging units, e-marketing points linked to e-trading platforms, ripening chambers besides PPP projects for crop aggregation sponsored by central/state/local bodies, he added. Rs 12,450 cr for 3 state-run insurers THE Union Cabinet approved capital infusion of Rs 12,450 crore in three State-owned general insurance companies to strengthen their capital base and make them more stable.
The National Insurance Company, Oriental Insurance Company and United Insurance Company will get the additional capital, Information and Broadcasting Minister Prakash Javadekar said. Affordable rental housing complexes for urban migrants THE Cabinet approved the development of affordable rental housing complexes (AHRCs) for urban migrants or poor as a sub-scheme under Pradhan Mantri Awas Yojana - Urban (PMAY-U). “In 107 cities 1,08,000 one-bedroom kitchen flats are ready under various schemes. The Government has decided it will be given to migrant workers on rent. The corporation of each city will give these on rent to the workers,” Javadekar said. He added that if any individual, corporation, or the Government wants to build anything under this scheme then special incentives “50 per cent additional FAR/FSI, tax reliefs to be offered.”
Free distribution of foodgrain till Nov THE Cabinet approved extending the scheme for distribution of free food grains to the country’s poorest until the end of November to help them cope with the economic pain of the coronavirus-induced lockdown. Javadekar said 81 crore poorest will be provided 5 kg free foodgrains per person for five more months and one kg pulses per month. The scheme would cost Rs 1.49 lakh crore. Also, the Government allowed 7.4 crore poor women to avail of three free LPG cylinders till September. Previously, they were to avail of this quota between April and June, he said.
Cabinet extends EPF support for 3 months, to benefit 72 lakh employees
NEW DELHI,
July 8 (ANI)
IN a move that will benefit over 72 lakh employees, the Union Cabinet on Wednesday approved the extension of Employees’ Provident Fund (EPF) contribution for three more months, from June to August 2020. “Cabinet approves extension of EPF contribution of 24 per cent (12 per cent employees share and 12 per cent employers share) for another 3 months from June to August 2020 under Pradhan Mantri Garib Kalyan Yojana/Atmanirbhar Bharat,” Union Minister Prakash Javadekar said. “The Government paid the provident fund for small businesses, where under 100 people are employed and more than 90 per cent of those get salary of less than Rs 15,000. The Government paid both the workers/employee’s share and the owners’ share for three months. The move benefitted over 72 lakh employees,” Javadekar said.